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The Post-Crisis Macroeconomic Policy Framework and Structural Reform: Reviving the Old Economy

In: Korea’s Economic Miracle

Author

Listed:
  • Charles Harvie

    (University of Wollongong)

  • Hyun-Hoon Lee

    (Kangwon National University)

Abstract

This chapter reviews and assesses the macroeconomic management and restructuring measures implemented in the wake of the financial crisis. Section 2 discusses the macroeconomic policy framework adopted by the monetary authorities in an effort to stabilise the currency and regain macroeconomic stability. This is followed in Section 3 by a discussion of the structural reform process pursued by the government in an effort to address more fundamental weaknesses in the economy. The main focus is on reform of the financial, corporate and public sectors and the labour market. Section 4 considers the performance of the economy during the period of reform and the challenges still to be faced. Finally, Section 5 presents some concluding remarks.

Suggested Citation

  • Charles Harvie & Hyun-Hoon Lee, 2003. "The Post-Crisis Macroeconomic Policy Framework and Structural Reform: Reviving the Old Economy," Palgrave Macmillan Books, in: Korea’s Economic Miracle, chapter 5, pages 121-158, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-2019-5_5
    DOI: 10.1057/9781403920195_5
    as

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